India vs Norway: Economic Indicators Comparison

India with a GDP of $2.7T ranked the 7th largest economy in the world, while Norway ranked 30th with $434.2B. By GDP 5-years average growth and GDP per capita, India and Norway ranked 6th vs 142nd and 150th vs 5th, respectively.

Gross Domestic Product & Income

Stat	India	Norway
GDP	$2.7T	$434.2B
GDP growth, 1 year	7.1%	1.4%
GDP growth, 5-years average	7.6%	1.7%
Population	1.3B	5.4M
GDP per capita	$2k	$82k
GDP per capita growth	5.71%	0.58%
Purchasing Power Parity conversion factor	18.1	10.14
Price level ratio of PPP conversion factor GDP to market exchange rate	0.26	1.25
GDP per capita, PPP adjusted	$7.9k	$74k
GNI, Atlas method	$2.7T	$428.4B
GNI per capita	$2k	$81k
GNI, PPP adjusted	$10.4T	$363B
GNI per capita, PPP adjusted	$7.7k	$68k

Financial system and Human development

Stat	India	Norway
Income Tax Rate	30.9%	47.8%
Corporate Tax Rate	32.4%	22%
Inflation, consumer prices	3.5%	2.8%
Inflation, GDP deflator	4.1%	5.8%
Unemployment	2.6%	3.9%
Economic Freedom Index	56.5	73.4
Personal Freedom Index	6.96	9.55
Human Freedom Index	6.8	8.61
Property Rights Index	63	84.3
Judical Effectiveness Index	64.1	82.8
Business Freedom Index	65.6	86.1
Fiscal Health Index	13.1	97.3
Labor Freedom Index	41.2	57.4
Investment Freedom Index	40	75
Financial Freedom Index	40	60
Trade Freedom Index	73.4	83.8
Monetary Freedom Index	73	74.8
Government Spending Index	77.9	25.6
Tax Burden Index	79.4	57.7
Government Integrity Index	47.2	95.6
Corruption Perceptions Index	41	84
Life expectancy at birth, years	69.2	82.5
Suicide mortality rate, per 100,000 people	16.3	12.2
Mortality caused by road traffic injury, per 100,000 people	22.6	2.7
Intentional homicides, per 100,000 people	3.2	0.5
International tourism, number of arrivals	17.4M	5.7M

Government debt & reserves

Stat	India	Norway
Central government debt, % of GDP	69.8%	36.8%
External debt stocks, % of GNI	19.3%	N/A
External debt stocks	$521.4B	N/A
Short-term debt, % of total reserves	26.1%	N/A
Total debt service, % of exports and primary income	11.4%	N/A
Adjusted net savings including particulate emission damage, % of GNI	16.3%	16.9%
Gross savings, % of GDP	30.9%	35.9%
Gross capital formation, % of GDP	31.3%	27.3%
Total reserves including gold	$399.2B	$63.1B
Foreign direct investment net inflows	$42.1B	-$17.4B

Exports, imports and economic structure

Stat	India	Norway
Exports of goods and services, % of GDP	19.7%	38.4%
Imports of goods and services, % of GDP	23.6%	32.6%
Current account balance (balance of payments)	-$65.6B	$31.4B
Revenue excluding grants, % of GDP	12.9%	47.4%
Grants excluding technical cooperation, BoP	$689.4M	N/A
Personal remittances received	$78.8B	$644.3M
Industry including construction value added, % of GDP	26.7%	32%
Agriculture, forestry and fishing value added, % of GDP	14.6%	1.9%
Charges for the use of intellectual property, payments BoP	$7.9B	$768.9M
Charges for the use of intellectual property, receipts BoP	$784.9M	$515.2M
Expense, % of GDP	14.9%	37.7%
Government Expenditure, % of GDP	27.1%	49.8%